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July is formally over (are you able to imagine it??) which implies we are able to now take a backwards have a look at what occurred within the crypto markets final month.
At this time we’re going to concentrate on a battle that’s as previous as t…
Effectively it’s truly solely a bit over 4 years previous – however in crypto years, that’s a very long time.
We’re speaking about Ethereum vs. Solana!
(Particularly, the quantity of utilization of DEX’s constructed on Ethereum in comparison with these in-built Solana).
For the primary time ever, Solana beat out Ethereum when it comes to total buying and selling quantity for the month (see header picture 👆).
Which is fascinating in itself – however what’s extra fascinating is why this is perhaps the case.
In the end it comes down to 3 principal issues:
Branding! Significantly, if Twitter is something to go by, the variety of instances we’ve heard individuals speaking about Solana as a ‘enjoyable’ blockchain to construct on is straight up bizarre.
Meme cash. The undisputed champion of the present cycle’s narrative thus far are meme cash.
These developed on the cheaper blockchain choices (Solana and Base) have blown up, whereas traditional NFT tasks like Bored Apes constructed on Ethereum have tumbled in worth and commerce quantity.
Lastly: value, group and creativity. The extra the web3 trade matures, the much less individuals appear to be prepared to spend cash on fuel charges.
Solana isn’t solely 100-1000 instances cheaper for fuel (transaction) charges over Ethereum (relying on community congestion), today Solana actually doesn’t have any much less performance than Ethereum both.
Plus, the best way Solana has bridged the hole between the developer group and the customers is one thing to admire.
Whereas this looks as if an advert for the Solana blockchain – it’s not!
Each Ethereum and Solana have their distinctive place within the web3 ecosystem.
However knowledge don’t lie!
And primarily based on the present trajectory, after we extrapolate this knowledge out a couple of weeks, months or years, it appears like Ethereum could possibly be in for a tough trip.
Let’s see how issues pan out!
